Citi Reiterates Hold Rating On PLXS

Citi Reiterates Hold Rating On PLXS Citi is reiterating its Hold (2S) rating and $38 PT on Plexus Corp. PLXS, “representing 27% upside from current valuation.” “We remain cautious given PLXS' commentary around softening customer orders, which we have not heard from other EMS companies,” Citi writes. “We would become more positive on the shares if the above concerns were resolved, at a lower stock price or if new business wins outstrip our outlook, all else equal.” Plexus closed Monday at $29.96.